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Bank Of Baroda (BOB) Pradhan Mantri Awas Yojna Home Loan, Interest Rate and EMI Calculator Mar 2019

(Updated on 18.03.2019) BOB Pradhan Mantri Awas Yojana Home Loan Mar 2019 – Get Instant Quick & Easy Approval on BOB Pradhan Mantri Awas Yojana Home Loan. Loansninsurances.com provide a simple tool to calculate your Home Loan EMI on the basis of ✓ Interest Rate ✓ Loan Tenure ✓ Processing Fee ✓ Eligibility ✓ Best Offers & more.

PRADHAN MANTRI AWAS YOJANA HOME LOAN– QUICK, EASY & INSTANT APPROVAL ONLINE

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Bank of Baroda Pradhan Mantri Awas Yojana Home Loan

In order to fulfill the mission of Housing For All, Bank of Baroda has skillfully designed home loan for all borrowers belonging to Economically Weaker Section & Low Income Group. Bank of Baroda home loan can be used for several home based purposes. Borrowers from all 4041 statutory towns as per Census 2011 will get the benefit of Bank of Baroda home loan. Rate of Interest, Margin, Repayment period will be as per Bank of Baroda Home Loan scheme. The interest subsidy of Rs. 6 lakhs will be channelized through Housing and Urban Development Corporation (HUDCO) and National Housing Bank (NHB).

Credit Linked Subsidy is available for loan amount of Rs. 6 lakhs for a loan tenure of 15 years. Loan amount exceeds Rs. 6 lakhs will be charged with the normal home loan interest Rates. Also, after 15 years there will be no subsidy of interest rates and the existing normal home loan rates will be charged on the remaining outstanding loan amount.

Bank Of Baroda Pradhan Mantri Awas Yojana Home Loan Interest Rate

Interest Rate

8.55% Onward

Processing fee range

0.5%- 0.25% of the Loan Amount

Loan Amount

Minimum 1 lakhs to maximum 75 lakhs

Tenure

15 years or a maximum of 30 years

BOB Pradhan Mantri Awas Yojana Home Loan Eligibility

  • Individuals belonging to EWS category should have annual household income up to Rs. 3 lakhs.

  • Individuals belonging to LIG category should have annual household income between Rs. 3 lakhs to Rs. 6 lakhs.

  • Interest subsidy of 6.5% is solely for EWS & LIG category.

  • Equitable mortgage of the housing property and/or other suitable securities are acceptable by the bank as security to the loan amount.

BOB Pradhan Mantri Awas Yojana Home Loan Amount Eligibility

The loan amount eligibility would be assessed by the Bank keeping in mind the cost of project, income criteria and repaying capacity etc. of the borrowers as per BOB’s Home Loan guidelines.

The maximum loan amount which can be availed by both EWS & LIG individuals is 75 lakhs with a repayment of up to 15 years or a maximum up to 30 years. Loan subsidy is available only up to 15 years.

BOB Pradhan Mantri Awas Yojana Home Loan Documents Required

  • Duly filled in application form with photograph

  • Identity proof and residence proof

  • Processing fee cheque, latest 3 months bank statement

  • Latest salary slip & current dated salary certificate with the latest Form 16 for salaried persons.

  • Latest Bank statement and Latest ITR or Form 16 for self-employed professionals

  • Other documents may also be required as per parameters set by the bank.

BOB Pradhan Mantri Awas Yojana Home Loan Prepayments

Bank of Baroda allows home loan applicant to pay the entire outstanding loan amount before the maturity of the loan. The bank charges no prepayment or foreclosure fee for home loan.

BOB Pradhan Mantri Awas Yojana Home Loan Margin (Borrower’s Contribution)

Category of Home Loan

LTV (%)

Margin (%)

Up to Rs. 30 Lakhs

90%

10%

Above Rs. 30 lakhs and up to Rs. 75 lakhs

80%

20%

Above Rs. 75 lakhs

75%

25%

BOB Pradhan Mantri Awas Yojana Home Loan Credit Linked Subsidy

  • Interest subsidy for EWS & LIG category for new house or incremental housing.

  • EWS-House sizes up to 30 sq.m.

  • LIG-house sizes up to 60 sq.m.

  • The credit linked subsidy will be available only for loan amounts upto Rs.6 lacs and not for loans beyond Rs. 6 lacs. If you take a loan amount of Rs. 10 lakhs, then interest subsidy will be applicable for Rs. 6 lakhs and the rest Rs. 4 lakhs will carry the normal home loan interest rates.

    Also be a part of Bank of Baroda Personal loan at the best attractive interest rates to meet all your immediate genuine financial requirements. Check our web pages for all kinds of loans which may be convenient to you for your diverse needs.